Everyone has become an expert at selling their wares, whether that is ebay or in yard sales. And now, more are embracing the task of selling their own property. But is this the right option for you?
Video transcript below:
Reporter: Selling a house looks easy. So why not just do it yourself? Many are taking on the task, but is it the right move for everyone, we find out in this week’s episode of Investor Insight on CREW TV.
From ebay to Kijiji selling our goods and services has become easy. Selling a home should be no different or so believes an increasing number of sellers. Are they right to bag the commission or are they setting themselves up for a loss?
Joy Paterson, Sales Rep., Stomp Realty Inc. Broker and Condo Chicks
Joy Paterson: The market in the past few years has just been so good and you know homes sells or property sells within one or two days of being on the market. So to the owners, in their eyes they think why am I paying this person so much money to sell a property when it seems to be an easy task. But the funny thing is that about 80% of people who do try to sell the property on their own do end up with posting with a realtor and selling it with a realtor. And I mean as an agent we go through hours and years and months of training and learning and experiences on, for every different scenario that we come in contact with.
So someone to come in and have to try and market the property, price the property, arrange and do showings with potential buyers, qualify the buyers and then do negotiations, that seems like as a huge task. So I think just because the industry has been so good in the past couple of years, our job appears to be very easy when in fact it’s actually very difficult.
Reporter: The cost of a good real estate team is pushing sellers to try selling on their own, but is that the only solution?
Brendan Powell, Sales Representative, the BREL team
Brendan Powell: I think that if anything the increase in choices for sellers with regards to mere postings, with regards to discount brokerages and everything all the way upto a full service, there is so many more options now that I think that fewer people are choosing to go completely on their own because they have one of the intermediate options.
So even somebody that might have sold it completely on their own before they can pay a small fee and get a lot more exposure from just being on the list and that is a very small step from selling it on their own. Work for a little bit more money that they can get and a little bit more guidance and so on.